Challenge

A higher education institution wanted to grow MBA applications by 50% in 2 years by creating more value for prospective MBA students as compared to its competitors. The institution wanted to increase brand equity by examining the factors that are important to aspiring students when they are considering an MBA program.

Solution

Using our integrated survey platform, we were able to identify the most important factors that lead different segments to apply to an MBA program, as well as how prospective students view the university’s biggest competitors.

Key Insights to Drive Actions

This university wanted to know how to stand out to prospective MBA students amid competition from other universities. To do so, the university had to know what was driving student’s choices and how they compared to key competitors.

Research showed that the most important factors to applicants when evaluating MBA programs were cost related, such as affordability, the need for merit-based scholarships, and loan assistance. Some other factors included customization (of schedule), small class sizes, career services support, and alumni network. Other factors like studying abroad, dual degrees, and accomplished alumni were of low priority to applicants.

When looking at reasons why applicants selected other institutions, those universities offered more scholarships and highlighted their accreditations.

Results

These insights enabled the university to take immediate action and improve the MBA program’s marketing and programming efforts. It was noted that the university could improve brand equity by investing in advertising against key competitors, highlight customization and affordability, and implementing more customization opportunities in the program overall.

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